JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High - Still a Buy?

Key Points

• JPMorgan Chase & Co. shares hit a new 52-week high of $304.43 in mid-day trading, indicating strong market interest with nearly 6.6 million shares traded.
• The company is currently viewed with mixed ratings, with one analyst rating it as a Strong Buy, while others have issued ratings ranging from strong sell to hold, resulting in an average consensus target price of $291.67.
• JPMorgan reported a Q2 EPS of $4.96, exceeding analysts' expectations, but its revenue was down 10.5% compared to the previous year, indicating potential challenges ahead.

JPMorgan Chase & Co. (NYSE:JPM) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $304.43 and last traded at $303.83, with a volume of 6603390 shares trading hands. The stock had previously closed at $299.51.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $291.67.

JPMorgan Chase & Co. Stock Up 1.4%

The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average price of $293.01 and a 200 day moving average price of $266.01. The firm has a market capitalization of $835.45 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the company posted $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JPM. ZynergyRetirementPlanningLLC lifted its holdings in JPMorgan Chase & Co. by 11.1% during the 2nd quarter. ZynergyRetirementPlanningLLC now owns 1,321 shares of the financial services provider's stock worth $383,000 after buying an additional 132 shares in the last quarter. V. M. Manning & CO. Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth $363,000. American Trust lifted its holdings in JPMorgan Chase & Co. by 2.5% during the 2nd quarter. American Trust now owns 37,250 shares of the financial services provider's stock worth $10,799,000 after buying an additional 908 shares in the last quarter. PVG Asset Management Corp acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth $226,000. Finally, Evolution Wealth Management Inc. acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth $77,000. 71.55% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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